The Minister of Finance, Louis Paul Motaze, issued an authorization on November 10, 2020 for the opening of its subsidiary Bange Bank Cameroon (Bange CMR SA).
In an order signed on November 10, 2020, the Minister of Finance (MINFI) issues an authorization for the opening of a local subsidiary of Bange Bank, the national bank of Equatorial Guinea. Louis Paul Motaze’s authorization thus allows this bank, classified in the universal bank category, to settle in Cameroon through its subsidiary called Bange Bank Cameroon.
This step marks the end of its installation process initiated in June 20219. On July 30, 2020, Bange Bank Cameroon obtained the assent of the Central African Banking Commission (Cobac) to operate in Cameroon. In the same vein, the Minister of Commerce issued to the bank on August 5, 2020, the commercial approval which “facilitates the registration for real estate credit, required for any foreign natural or legal person or if the capital is majority owned by foreigners ”, explained Louis Magloire Mbarga Atangana
The capital of the new bank is not yet known, but according to the regulations in force in the Economic and Monetary Community of Central Africa (CEMAC), the minimum required is 10 billion FCFA. It is the 16th bank installed in Cameroon. The date of its opening is not yet known.
